Frozen food is winning big! Busy families and
health-conscious eaters are driving the market thanks to
convenient, healthy options. Supermarkets are stocking more variety
than ever, with new and exciting flavors keeping things
interesting. Curious to explore this booming market? Future Market
Insights has a report with all the details, including marketing
strategies, key drivers, and top companies in the frozen food
industry.
NEWARK, Del., April 23, 2024 /PRNewswire/ -- According to
Future Market Insights (FMI), the global frozen food
market is projected to increase from US$ 365.2 billion in 2024
to US$ 638.6
billion by 2034. The market is projected to surge
at a CAGR of 5.7% from 2024 to 2034.
Download the Sample PDF report to explore key market
insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-17944
Due to their convenience of preparation and single-serving
alternatives, frozen foods are becoming increasingly popular among
consumers, particularly among millennials. The growing emphasis
among consumers on adopting healthy eating habits is driving the
demand for frozen foods.
The market for frozen meals is driven by the increasing number
of dual-income homes and rising urbanization. These factors are
resulting in busier lives and a need for quick & easy meal
alternatives, which frozen foods provide.
Supermarkets and hypermarkets, two contemporary retail formats
that have increased accessibility to a greater range of frozen food
goods, are the primary drivers of the frozen food sector. As
customer tastes change, producers respond by consistently releasing
new and inventive frozen food items, such as gourmet selections and
exotic cuisines, leading to the rise of the frozen food
business.
Key Takeaways from the Report:
- The global frozen food market is projected to
reach US$ 638.6
billion in 2034.
- The market is anticipated to surge at a CAGR
of 5.7% from 2024 to 2034.
- The United States is projected
to expand at a CAGR of around 4.9% by 2034.
- Frozen food demand in China is
anticipated to rise at a steady CAGR
of 4.2% during the forecast period.
- Based on product type, the frozen fish and seafood segment is
predicted to surge at 4.0% CAGR by 2034.
"Consumer demand for nutritious, organic, and clean-ready
meals is rising as a result of their growing appreciation for food
that serves a practical purpose in addition to pleasure. Customers
are carefully picking their frozen foods to prevent negative health
effects due to increased health knowledge and worries about food
safety," says Nandini Roy
Choudhury (Client Partner for Food & Beverages at
Future Market Insights, Inc.).
Competitive Landscape
Leading companies are seeking strategic collaborations &
alliances with other producers to increase efficiency and satisfy
the surging number of consumers. Key manufacturers in this
industry, with their sizable customer bases, well-known brands, and
extensive distribution networks, present fierce competition for the
market's participants. To remain competitive, companies are
adapting serval growth tactics into practice, including alliances
and introducing new products.
Recent Development
- In March 2021, Nomad
Foods acquired Fortenova's frozen food business.
- In January 2021, Imperial
Tobacco Company of India Limited (ITC) added ten new items and
tripled the size of its frozen snack business.
Purchase now and gain full access to
the Frozen Food Industry report, featuring comprehensive Market
Forecast, Company Share Analysis, Competition Intelligence, DROT
Analysis, Market Dynamics and Challenges, and Strategic Growth
Initiatives.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an
unbiased analysis of the global frozen food market, presenting
historical demand data (2019 to 2023) and forecast statistics for
the period from 2024 to 2034.
The study incorporates compelling insights on the frozen
food market based on freezing technique (blast freezing, belt
freezing, individual quick freezing), product type (frozen ready
meals, frozen fish & seafood, frozen meat products, frozen
dairy products, frozen fruits & vegetables, frozen bakery
products, frozen soups & sauces), distribution channel (food
service industry, retail/household), and region.
About the Food & Beverage Division at Future Market
Insights (FMI)
Expert analysis, actionable insights, and strategic
recommendations – the food & beverage team at Future Market
Insights (FMI) helps clients from all over the globe with their
unique business intelligence needs. With a repertoire of over 1,000
reports and 1 million+ data points, the team has analyzed the food
& beverage industry lucidly in 50+ countries for over a decade.
The team provides end-to-end research and consulting services;
reach out to explore how we can help.
About the Author:
Nandini Roy
Choudhury (Client Partner for Food & Beverages at
Future Market Insights, Inc.) has 7+ years of management consulting
experience. She advises industry leaders and explores off-the-eye
opportunities and challenges. She puts processes and operating
models in place to support their business objectives.
She has exceptional analytical skills and often brings thought
leadership to the table.
Nandini has vast functional expertise in key niches, including
but not limited to food ingredients, nutrition & health
solutions, animal nutrition, and marine nutrients. She is also
well-versed in the pharmaceuticals, biotechnology, retail, and
chemical sectors, where she advises market participants to develop
methodologies and strategies that deliver results. Another feather
to her cap manifests in the form of process automation. She is
vocal about bringing automation to the fore to bring a
360-degrees-round revolution in manufacturing sector
Her core expertise lies in corporate growth strategy, sales and
marketing effectiveness, acquisitions and post-merger integration
and cost reduction. Nandini has an MBA in Finance from MIT School
of Business. She also holds a Bachelor's Degree in Electrical
Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in
journals including Beverage Industry, Bloomberg, and Wine Industry
Advisor.
Explore FMI's Extensive Coverage in the Food and Beverages
Domain:
- Food and Beverage Additive Market Forecast by
Sweeteners, Enzymes, and Flavors and Enhancers for 2024 to 2034. –
Review and Request to Access the Sample Report.
- Frozen Seafood Market Forecast by Organic and
Conventional from 2024 to 2034. - Review and Request to Access
the Sample Report.
- Frozen Bakery Market Covering Sales Outlook, Up-to-date
Key Trends, Market Size and Forecast, 2023-2033. - Review and
Request to Access the Sample Report.
- Frozen Yogurt Market Analysis by Dairy-Based and
Non-Dairy Based Product Types from 2024 to 2034. - Review and
Request to Access the Sample Report.
- Coffee Concentrate Market Forecast by Caffeinated and
Decaffeinated Type for 2024 to 2034. - Review and Request to
Access the Sample Report.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading market intelligence
and consulting service provider, serving clients in over 150
countries. FMI is headquartered in Dubai and has delivery centers in the UK, the
U.S., and India. FMI's latest
market research reports and industry analysis help businesses
navigate challenges and make critical decisions with confidence and
clarity amidst breakneck competition. Our customized and syndicated
market research reports deliver actionable insights that drive
sustainable growth. A team of expert-led analysts at FMI
continuously tracks emerging trends and events in a broad range of
industries to ensure that our clients prepare for the evolving
needs of their consumers.
Contact Us
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Sawlani
Future Market Insights Inc.
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